Nordic Life Science 1
TOP STORIES BUSINESS BUSINE S S D E A L Martin Åm
ark, CEO, Xbrane Biopharma is a fully Bjørn Klem, General Manager, OCC Incubator owned subsidiary of Xbrane, located in Italy and specialized in the development of long acting injectables based on a microsphere encapsulation technology. Primm falls outside Xbrane’s strategic scope. The non-binding terms inNORWAY clude the sale of 100% of the shares in Primm to NewFaDem for a total consideration of up to EUR 14 million, to be paid in part upfront and on development and sales related milestones. Xbrane and NewFaDem jointly target to complete the transaction in 2021. The activities often include establishing for the best research projects and start-ups with innovative technology in cancer and a strong commercial potential. It is publicly funded with the overarching goal to build the Norwegian health industry, states Bjørn Klem, General Manager, OCC Incubator. “We tailor our services according to each company’s needs.” the company, securing intellectual property rights, funding the company, setting up development plans, and recruiting management, and a board of directors. OCC Incubator also helps the company navigate the landscape of funding grants, coaches them before negotiations with potential investors and provides valuable contacts. The companies may stay up to four years in the program and their progress is evaluated on a yearly basis. The program is funded by Siva. 8 NORDICLIFESCIENCE.ORG PHOTO STIG JARNES